Vertical Research Begins Coverage on T1 Energy (NYSE:TE)

Key Points

• Vertical Research initiated coverage of T1 Energy with a “hold” rating and a $5.00 price target, implying 22.1% upside from the reported $4.09 share price.
• Analyst sentiment is mixed, although MarketBeat reports a “Moderate Buy” consensus and an average price target of $8.30; ratings range from Strong Buy to Strong Sell.
• T1 Energy reported quarterly revenue of $250.13 million and an adjusted loss of $0.09 per share, while its stock has traded between $1.74 and $12.49 over the past year and carries significant leverage with a 3.50 debt-to-equity ratio.

Stock analysts at Vertical Research started coverage on shares of T1 Energy (NYSE:TE - Get Free Report) in a research note issued on Thursday, MarketBeat Ratings reports. The brokerage set a "hold" rating and a $5.00 price target on the utilities provider's stock. Vertical Research's target price would indicate a potential upside of 22.10% from the stock's current price.

A number of other analysts have also commented on TE. Needham & Company LLC dropped their price target on T1 Energy from $8.00 to $7.00 and set a "buy" rating on the stock in a report on Tuesday, July 28th. Northland Securities started coverage on T1 Energy in a research note on Wednesday, June 3rd. They issued an "outperform" rating and a $16.00 target price on the stock. JPMorgan Chase & Co. initiated coverage on shares of T1 Energy in a research report on Monday. They set a "neutral" rating and a $5.00 target price for the company. Weiss Ratings restated a "sell (d-)" rating on shares of T1 Energy in a research report on Wednesday, July 8th. Finally, Wall Street Zen downgraded T1 Energy from a "sell" rating to a "strong sell" rating in a research note on Saturday, August 22nd. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $8.30.

T1 Energy Price Performance

Shares of NYSE TE opened at $4.09 on Thursday. The stock has a market cap of $1.21 billion, a price-to-earnings ratio of -2.07 and a beta of 2.25. The company has a debt-to-equity ratio of 3.50, a quick ratio of 0.90 and a current ratio of 1.30. T1 Energy has a fifty-two week low of $1.74 and a fifty-two week high of $12.49. The firm's 50-day simple moving average is $5.08 and its 200 day simple moving average is $6.43.

T1 Energy (NYSE:TE - Get Free Report) last announced its earnings results on Wednesday, August 12th. The utilities provider reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.04. T1 Energy had a negative return on equity of 149.67% and a negative net margin of 38.49%.The company had revenue of $250.13 million for the quarter. As a group, research analysts anticipate that T1 Energy will post -0.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On T1 Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TE. Sei Investments Co. increased its position in T1 Energy by 4.6% during the 1st quarter. Sei Investments Co. now owns 43,776 shares of the utilities provider's stock valued at $192,000 after purchasing an additional 1,911 shares during the period. Insight Advisors LLC PA raised its holdings in T1 Energy by 21.3% in the first quarter. Insight Advisors LLC PA now owns 37,000 shares of the utilities provider's stock worth $162,000 after purchasing an additional 6,500 shares in the last quarter. Cetera Investment Advisers lifted its position in T1 Energy by 3.7% during the first quarter. Cetera Investment Advisers now owns 182,285 shares of the utilities provider's stock valued at $800,000 after buying an additional 6,537 shares during the period. Blackhawk Capital Partners LLC bought a new stake in shares of T1 Energy during the 1st quarter valued at $44,000. Finally, Jennison Associates LLC boosted its holdings in shares of T1 Energy by 2.6% during the 1st quarter. Jennison Associates LLC now owns 405,182 shares of the utilities provider's stock valued at $1,779,000 after buying an additional 10,425 shares in the last quarter. 52.31% of the stock is currently owned by institutional investors.

About T1 Energy

T1 Energy Inc NYSE: TE is a U.S.-focused solar energy company developing domestic manufacturing and supply-chain capabilities for the photovoltaic industry. Its business centers on producing solar modules and supporting the deployment of utility-scale and other solar power projects.

The company's operations are anchored by a solar module manufacturing facility in Texas, which it acquired as part of its transition into the solar industry. T1 Energy is focused on expanding U.S.-based production and serving the North American market as demand grows for domestically manufactured solar equipment.

T1 Energy was formerly known as FREYR Battery, a company established to develop battery-cell manufacturing operations.

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